Most people don’t really think there is any difference is using your debit or credit card, other than one requires a signature and the other a PIN. Be warned: there could be significant differences in protections if you are the victim of fraud. Debit Card Using a PIN: Federal law generally limits consumer liability in [...]
Entries Tagged as 'liability'
More Protected Using a Debit or Credit Card?
January 27th, 2010 · 4 Comments · Banking, Credit Cards
Tags: Credit Cards·Debit Cards·Fair Credit Billing Act·Fees·fraud·liability·Mastercard·PIN·signature·transaction networks·Visa
How Your Business Can Affect Your Personal Credit
March 12th, 2009 · 2 Comments · Credit Reports
Two entrepreneurs put together a great business plan, and based on this, they applied for and received a small business loan. In a few years the business was very successful and the original loan was paid off. Sales grew quickly and keeping up with demand meant leasing a warehouse, stocking inventory and hiring employees. The successful owners applied for and received a quick business line of credit and business credit cards to float the debt during the course of business; all of the business credit applications required the business Tax ID and both of their personal Social Security Numbers. Then the economic situation changed and sales plummeted.
Tags: business credit·business line of credit·Credit Cards·Fair Debt Collection Practices Act·Financing·liability·Personal Credit·personal guarantees·small business
